"They are an investment company and have substantially deep pockets. They have offered to clear the debt, buy the hotel and invest in the team so they can challenge for promotion and invest in the new training ground, Bearwood.

"They are serious contenders."

Turning his attentions to Anton Zingarevich, the former owner of Reading, Samuelson said the Russian was saddened by the club's current plight.

"Anton is very disappointed," he said.

"He is still a big supporter of Reading Football Club.

"However, circumstances change, but he still feels a great warmth to the club and is very sad he did not deliver and let the stakeholders down."

He added: "Anton told me he had some issues of his own back in Russia and that is why he found himself in the awkward position of not having the money for the remaining 49 per cent and the money to finance the team.

"There was a compromise agreement reached with his father Boris Zingarevich to help finance the club."